Flutterwave Mono Acquisition 2026: Consolidation Hits Africa's Fintech Infrastructure

Payments and data are no longer silos in the African tech ecosystem. Flutterwave, the continent's most valuable fintech firm, has acquired Nigerian open banking pioneer Mono in an all-stock deal. The transaction signals a major shift toward vertical integration as the market moves from simple payments to complex, data-driven financial services.

Flutterwave Mono Acquisition 2026: The Strategic $40 Million Deal

According to sources familiar with the matter, the deal is valued between $25 million and $40 million. For Mono, often dubbed the "Plaid for Africa," the exit provides a significant win for early backers like Tiger Global and General Catalyst, with some realizing returns of up to 20x.

Since its founding in 2020, Mono has built a formidable presence, powering over 8 million bank account linkages. Its infrastructure is the backbone for nearly all digital lenders in Nigeria, processing 100 billion financial data points to date. By acquiring Mono, Flutterwave adds critical onboarding, identity verification, and risk assessment tools to its massive payment stack.

Building Africa's Credit-Driven Future

"Payments, data, and trust cannot exist in silos," stated Olugbenga 'GB' Agboola, CEO of Flutterwave. He framed the acquisition as a bet on Africa's next growth phase, where open banking provides the "connective tissue" for the entire financial sector.

Mono CEO Abdulhamid Hassan noted that as African economies become more credit-driven, deep data intelligence is paramount. "You need to know how people earn and spend," he said. By joining forces, the two companies can now offer a unified experience for businesses operating across more than 30 African countries.